Mumbai

RBI pitches for structural reforms; sees 6% inflation in 2015

RBIMumbai: Pitching for structural reforms to reinforce investor confidence, RBI on Monday said falling inflation and political stability have helped check the macroeconomic vulnerabilities, while retail inflation is expected to stabilise near 6 percent level in 2015.

The central bank, however, flagged lower revenue mobilisation this fiscal as a "major concern" and said that the asset quality remains a grey area in the banking sector.

It also sounded caution over the recent phenomenon of FIIs showing greater interest in the Indian debt markets, saying this trend can turn volatile in the wake of changes in global markets, especially in the US, the world's largest economy.

Amitabh Bachchan plans to start campaign for Hepatitis B

Mumbai - Megastar Amitabh Bachchan is planning to start a new campaign for infectious disease caused by the hepatitis B virus (HBV).

The 72-year-old actor, who is also a UNICEF Global Ambassador for polio eradication, met doctors recently to strategies the plan.

"Wish to start a campaign on awareness of Hepatitis B... Met some committed doctors and shall strategise... Detect and cured asap!," Bachchan posted on Twitter.

Apart from his social works, Bachchan is also excited to release the first song of his upcoming release 'Shamitabh' after unveiling the film's first audio poster.

Sanjiv Sarin appointed CEO designate of Tata Coffee Limited

sanjiv sarinMumbai, Dec.29 - The Board of Directors of Tata Coffee Limited has announced that Sanjiv Sarin will be appointed as CEO designate of Tata Coffee Limited with effect from January 8, 2015.

Sarin will assume charge as CEO and MD of Tata Coffee Limited upon the retirement of Mr. Hameed Huq, the current CEO and MD , a compnay press release said. (ANI)

Sensex snaps two-session losing streak; gains 102 points to 27,311

Mumbai - Snapping its two-session losing streak, the benchmark BSE Sensex recovered over 102 points to 27,311 in early trade on Friday as the January series in derivatives segment commenced on fresh buying by participants.

The 30-share index, which had lost 493.18 points in the previous two sessions, rose by 102.83 points, or 0.38 percent, to trade at 27,311.44 with power, capital goods, infrastructure, banking and metal sector stocks leading the rise.

On similar lines, the National Stock Exchange index Nifty surged by 44.85 points, or 0.55 percent, to 8,218.95.

Rupee falls 6 paise to 63.57 against dollar

Rupee DollarMumbai: In line with the stock market, the rupee failed to maintain initial gains against the dollar and was quoted lower by six paise to 63.57 on fresh demand for the American currency from banks and importers due to heavy foreign capital outflows.

The rupee resumed higher at 63.45 as against Wednesday's closing level of 63.51 at the Interbank Foreign Exchange (Forex) on initial selling of dollars by banks and exporters.

However, it failed to maintain initial gains and dropped to 63.64 before quoting 63.57 at 1000 hours.

It moved in a range of 63.45-63.64 per dollar during morning trade.

Sensex gains over 6,000 pts; gears for best rally in 5 years

Mumbai - Riding high on the sentiments, the stock market is gearing up for its best performance in five years with a rally of over 6,000 points in the benchmark Sensex in 2014 -- which also saw the investors' wealth hitting Rs 100 trillion level for the first time in history.

With just four days of trading left this year, the Sensex has rallied by nearly 29 percent so far in 2014 with a gain of 6,038 points -- the highest annual gain since the year 2009 when the bluechip index had rallied by 7,817 points.

Gold loses sheen to import curbs; smugglers make hay

Mumbai - Losing its sheen for the second year in a row, gold turned cheaper by over 10 percent in 2014 as the government tried to divert investors away from this 'unproductive asset', even as import curbs led to a rise in smuggling of the yellow metal.

For silver, the year has been even worse with a fall of about 20 percent in its price.

As the year 2014 draws to a close, gold prices have fallen to nearly Rs 26,000 per 10 grams from close to Rs 30,000 at the end of 2013.

For silver, the fall has been even sharper at about Rs 36,000 per kg from close to Rs 44,000 at the beginning of 2014.

Reliance signs shipping agreement for ethane imports

Mumbai - Reliance Industries Ltd on Wednesday said it had signed a long-term shipping agreement with Japan`s Mitsui OSK Lines Ltd (MOL) to transport liquefied ethane that Reliance will import from North America.

MOL will supervise the construction of six very large ethane carriers (VLECs) ordered by Reliance and operate and manage the vessels after they are built and delivered, the Indian company said in a statement.

The VLECs are being built by Samsung Heavy Industries Co Ltd and are expected to be delivered in the last quarter of 2016, MOL said separately.

The companies did not disclose the value of the deal.

Markets to remain closed today on account of Christmas

Mumbai - The Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), Forex, Money and commodity markets will remain closed on Thursday on account of "Christmas".

Sensex yesterday slumped by nearly 300 points to end day's trade at 27,208.61 due to heavy profit-booking, chiefly in IT, oil & gas and power shares, ignoring government approving the ordinance route to implement insurance and coal reforms.

The BSE 30-share index traded in the positive terrain in early trade but could not to keep the gains and fell sharply o 27,208.61, a fall of 297.85 points or 1.08 percent, due to selling pressure emerged in the last hour of day's trading. PTI

Rupee down 20 paise to 63.48 against dollar in early trade

Mumbai - The rupee depreciated by 20 paise to 63.48 against the US currency in early trade on Wednesday at the Interbank Foreign Exchange due to the dollar's gains against its rivals overseas.

Forex dealers said besides the dollar's gains against other currencies overseas on robust US economic growth, increased demand for the American unit from importers and a lower opening in the domestic equity market kept pressure on the rupee.

The rupee had weakened by 3 paise to end at 63.28 against the American currency yesterday due to sustained capital outflows and fresh demand for the US currency from banks and importers.

RBI extends deadline to exchange pre-2005 notes till June 30

RBI extends deadline to exchange pre-2005 notes till June 30Mumbai : The deadline for exchanging pre-2005 currency notes of various denominations, including Rs 500 and Rs 1,000, has been extended by another six months till June, 30, 2015.

"The Reserve Bank of India has stated that the public can do so till June 30, 2015. Earlier in March 2014, it had set the last date for public to exchange these notes was January 1, 2015," the RBI said in a statement.

The central bank clarified that all such notes will continue to remain a legal tender. These notes can be exchanged for their full value, it added.

Rupee down 4 paise to 63.29 against dollar in early trade

india rupeeMumbai: The rupee depreciated by four paise to 63.29 against the US dollar in early trade today at the Interbank Foreign Exchange on fresh demand for the American currency from banks and importers.

Forex dealers said besides the dollar's gains against other Asian currencies, increased demand for the American unit from importers contributed to the rupee's weakness but a higher opening in domestic equities, capped the fall.

The rupee had gained five paise to close at 63.25 against the dollar in yesterday's trade on fresh selling of the US currency by exporters amid bullish stocks.

Sensex extends gains, up 87 points in early trade

Mumbai - The benchmark BSE Sensex gained over 87 points in early trade on Monday on mild buying by funds and investors amid robust global trends coupled with positive domestic sentiments after the introduction of GST Bill in the Lok Sabha on Friday.

Rising for the third straight day, the 30-share index, which had gained 661.71 points in past two sessions, rose by 87.28 points, or 0.32 per cent, to 27,459.12 with stocks of metal, FMCG, capital goods and realty sectors leading the rise.

The National Stock Exchange index Nifty also moved up by 18.10 points, or 0.22 per cent, to 8,243.30.

Rupee recovers 5 paise at 63.25 vs US dollar

Mumbai - The rupee recovered by 5 paise to 63.25 against the US dollar in early trade on Monday on fresh selling of the American currency by banks and exporters.

Besides, dollar's weakness against other currencies overseas amid higher opening in the domestic equity market also supported the rupee, dealers said.

The domestic currency had lost 19 paise to end at 63.30 against the dollar on Friday due to strong demand for the US currency from oil firms.

Meanwhile, the benchmark BSE Sensex gained 87.28 points, or 0.32 per cent, to trade at 27,459.12 in early trade today. (PTI)

Sensex up 314 points in early trade on global trends

Mumbai - Extending its rise for the second straight session, the benchmark BSE Sensex spurted by over 314 points in early trade on Friday on firming global trend after the US Fed gave indication of holding interest rate hike in the short-term.

Besides, further recovery in the rupee, which was trading 11 paise higher at 63 against the dollar in early trade, also supported the rally.

The 30-share index, which had gained 416.44 points in the previous session, rose further by 314.29 points, or 1.16 per cent, to 27,440.86.

Rupee up 11 paise at 63 against dollar

Mumbai - The rupee gained another 11 paise to trade at 63.00 against the dollar in early morning session on Friday at the Interbank Foreign Exchange market on increased selling of the US currency by exporters.

Forex dealers said besides selling of the American currency by exporters, a higher opening in the domestic stock market buoyed the rupee sentiment but dollar's strength against other currencies overseas limited gains.

The rupee had gained 50 paise, the steepest single day gain in last seven months, to close at 63.11 against the dollar yesterday, in line with strong recovery in stocks.

Rupee up 40 paise to 63.21 against dollar in early trade

Mumbai - After three sessions of weakness, the rupee strengthened by 40 paise to 63.21 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amidst higher opening in the domestic equity market.

Forex dealers said besides selling of the American currency by exporters, gains in other currencies against the dollar overseas after the US Federal Reserve indicated interest rates would be hiked by mid-2015 and a rebound in the domestic stock market, supported the rupee.

Yesterday, the rupee had lost 8 paise to close at 63.61 against the dollar due to persistent capital outflows.

Sensex snaps 5-day losing trend to regain 27K mark; Nifty over 8,100 level

Mumbai - Snapping their five-day losing trend, Sensex soared over 395 points to regain the 27,000-mark and NSE Nifty reclaimed the 8,100-level in early trade today, following rebound in bluechips, boosted by a global markets rally after the US Fed kept its monetary policy unchanged.

The 30-share index rebounded by 395.67 points, or 1.48 percent, to trade above the 27,000-mark at 27,105.80. The gauge has lost 1,120.97 points in the previous five sessions.

All sectoral indices, led by consumer durables, banking, power, capital goods, realty and metal, gained up to 3.03 percent.

Sensex drops 285 points in morning trade; Nifty below 8K-level

Mumbai - Bears continued to cast shadow as the benchmark BSE Sensex extended its overnight crash to drop 284.91 points and Nifty fell below the crucial 8K-level on across the board selling amid mixed Asian cues.

The market was entangled by global uncertainties due to fall in crude oil prices, Russian currency turmoil as well as uninterrupted selling by FIIs.

There is a need of definite trigger for bourses to recoup as investors are looking for the outcome of a crucial US Federal Reserve meeting, a trader said.

The 30-share BSE Sensex resumed lower at 27,724.01 and dipped to 26,483.57, down by 284.91 points, or 1.06 percent, at 1015 hours.

SpiceJet shares plunge 17% as airline asks for govt help

Mumbai - Continuing its plunge for the fourth straight session Tuesday, shares of SpiceJet tanked 17 percent even as the beleaguered company got a breather with indications that state-run Airports Authority of India would not press for immediate clearance of Rs 200 crore dues.

Amid continued sluggish investor sentiment for the shares of the Kalanithi Maran-led company, SpiceJet plunged 16.97 percent to Rs 11.25 at the BSE.

In four trading sessions, the stock has crashed over 25 percent, eroding Rs 216.63 crore from its market value.

Marketmen said that the stock is witnessing a downtrend amid mounting troubles for the cash-strapped budget carrier.




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